March 26, 2018 -- Gold and silver performed strongly last week, turning in one of the better performances this year, especially when considering the backdrop. The U.S. dollar fell on renewed concerns over trade and the turmoil in the stock markets inspired a bit of safe haven buying in the metals.

The Fed, under new leadership from Jerome Powell, delivered as expected on a quarter percent rate hike last week.

Precious metals rallied on the news Wednesday, following the pattern of recent FOMC rate increases – sell the rumor, buy the fact. Precious metals sold off on the “rumor” of tightening, in advance of the meeting. Buyers then stepped in to aggressively buy metals on the “fact” – the actual policy announcement.

Stock investors were less enthusiastic about the Fed’s action. Equity markets saw the heaviest selling since early February, with the DOW losing more than 700 points on Thursday alone.



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